They're out there: High quality counterfeit and replica US coins

Coin collecting is somewhat of a risky business, but if you are going to purchase coins, be very careful about buying uncertified and raw coins.

There are massive numbers of replica, counterfeit coins coming out of China that are not being marked properly with the word "copy" or "replica" on them. This is suppose to be a requirement, but is unenforceable with online purchasing.

There have been multiple articles lately about various counterfeits showing up for sale online at sites such as Ebay. I went to Ebay and browsed the available "1900 Lafayette Dollar" and I counted no fewer that 17 coins that were fairly obvious fakes.

Unfortunately, even third party graded coins are not an absolute guarantee of a genuine coin, as fake PCGS (Profession Coin Grading Service) encapsulated coins have been showing up with more regularity. Be especially wary if a black magic marker has crossed out the reference number on the front of the holder.

Modern coins and proof coins are unlikely to be replicas, as there's little financial incentive to make them. Your local coin dealer may also be able to help in your purchases, especially if you are new to coin collecting.